PDD Holdings Inc. (NASDAQ:PDD) Receives Consensus Recommendation of "Buy" from Analysts

PDD Holdings Inc. (NASDAQ:PDD - Get Free Report) has received a consensus recommendation of "Buy" from the twelve analysts that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $177.78.

Several research firms have weighed in on PDD. Macquarie lowered PDD from an "outperform" rating to a "neutral" rating in a report on Monday, August 26th. Daiwa America upgraded PDD to a "strong-buy" rating in a research report on Tuesday, August 27th. Benchmark lowered their target price on PDD from $230.00 to $185.00 and set a "buy" rating for the company in a research note on Tuesday, August 27th. Citigroup lowered shares of PDD from a "buy" rating to a "neutral" rating and cut their price target for the company from $194.00 to $120.00 in a research note on Tuesday, August 27th. Finally, Jefferies Financial Group lowered their price objective on shares of PDD from $193.00 to $151.00 and set a "buy" rating for the company in a research report on Monday, August 26th.

PDD Trading Down 0.1 %

Shares of NASDAQ PDD traded down $0.08 during mid-day trading on Friday, hitting $99.90. The company's stock had a trading volume of 9,000,899 shares, compared to its average volume of 20,730,046. PDD has a one year low of $88.01 and a one year high of $164.69. The company's fifty day simple moving average is $120.82 and its 200-day simple moving average is $128.55. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.11 and a quick ratio of 2.11. The stock has a market cap of $137.45 billion, a price-to-earnings ratio of 13.23, a price-to-earnings-growth ratio of 0.24 and a beta of 0.69.

PDD (NASDAQ:PDD - Get Free Report) last posted its quarterly earnings results on Monday, August 26th. The company reported $23.24 earnings per share for the quarter, beating analysts' consensus estimates of $2.66 by $20.58. PDD had a return on equity of 48.14% and a net margin of 28.92%. The company had revenue of $97.06 billion for the quarter, compared to the consensus estimate of $100.17 billion. During the same quarter in the prior year, the business posted $1.27 EPS. The firm's quarterly revenue was up 85.7% on a year-over-year basis. On average, sell-side analysts anticipate that PDD will post 11.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PDD

Several large investors have recently modified their holdings of PDD. Sanctuary Advisors LLC bought a new stake in shares of PDD during the second quarter worth approximately $1,211,000. Teachers Retirement System of The State of Kentucky bought a new stake in PDD in the 2nd quarter valued at $15,329,000. Cetera Investment Advisers boosted its stake in PDD by 21.2% in the 2nd quarter. Cetera Investment Advisers now owns 41,554 shares of the company's stock valued at $5,525,000 after purchasing an additional 7,255 shares during the period. NewEdge Advisors LLC increased its position in PDD by 9.4% during the 2nd quarter. NewEdge Advisors LLC now owns 15,207 shares of the company's stock worth $2,022,000 after buying an additional 1,304 shares during the period. Finally, Creative Planning lifted its holdings in shares of PDD by 29.4% during the second quarter. Creative Planning now owns 20,625 shares of the company's stock worth $2,742,000 after buying an additional 4,680 shares in the last quarter. 29.07% of the stock is owned by institutional investors.

PDD Company Profile

PDD Holdings Inc, a multinational commerce group, owns and operates a portfolio of businesses. It operates Pinduoduo, an e-commerce platform that offers products in various categories, including agricultural produce, apparel, shoes, bags, mother and childcare products, food and beverage, electronic appliances, furniture and household goods, cosmetics and other personal care, sports and fitness items and auto accessories; and Temu, an online marketplace.